New platform will increase settlement transparency

By Hannah Blackiston
New platform will increase settlement transparency

A new online directory is aiming to increase accountability and transparency for both buyers and sellers during the settlement process.

OzConveyancers, launched by information provider GlobalX, is enabling buyers to locate property settlement professionals and then rate and review them on the online platform which will also have information about pricing and stamp duty.

The directory will be entirely free for consumers to use and is trying to remove the gap between professionals and the clients who could be using their services.

“ provides simple, geographically-targeted information to consumers, helping them find the most appropriate, best-priced conveyancer in their local area,” said GlobalX CEO Peter Maloney.

The system will be especially useful to first home buyers or new investors who are unsure of the settlement process timeline, and what costs to expect in the process.

“We’ve known for some time that there is a lack of information and accessible technology available for people in the initial stages of buying and selling a home,” said OzConveyancers product manager Nippa Ekanayake.

“Our research found other comparison sites in the market failed to provide supporting documentation crucial to home buyers, so we addressed this information and bridged the gap. The benefit to consumers is is a one-stop shop for conveyancing information, allowing users to easily compare local businesses to find the best deal without any fees, or commissions paid to our organisation,” said Mr Ekanayake.

OzConveyancers also believes its service will make it easier for smaller businesses who can’t afford advertising to the same level as the bigger companies to connect with more clients in their local area.

The site currently has over 2,500 conveyancing businesses listed on it.

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New platform will increase settlement transparency
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